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Vestiq Pharma opens for business with two approved drugs

World News | January 17, 2013


Kevin Grogan

Vestiq Pharma opens for business with two approved drugs

A new US drugmaker - Vestiq Pharmaceuticals - has officially launched, bringing with it two recently-acquired products that are already on the market and a number of alliances.

The company, which has headquarters located near Research Triangle Park, North Carolina, came about through the acquisition of Praelia Pharmaceuticals, which will serve as its branded drugs arm. It has also signed up Vanguard Pharma to act as its contract sales organisation and Synopia Rx as its managed care administrator.

Vestiq has also acquired two recently-approved drugs, namely Oravig,(miconazole), a treatment for oropharyngeal candiasis bought from France's BioAlliance, and Zuplenz (ondasetron), acquired from MonoSol RX for chemotherapy-induced nausea and vomiting. The firm has also entered into a co-promotion agreement with Women’s Choice Pharmaceuticals for Zuplenz in order to increase its sales presence in the USA.

Vestiq says it is "positioned in a market gap between traditional specialty pharma companies and CSOs" and chief executive Martin Baum said "our business model is to create a high-growth pharmaceutical company through strategic acquisitions". The firm is looking at additional oncology supportive care products, women’s health and pain management.

Mr Baum added that "we’re proud that unlike so many newer companies, we have our vision for the future set and began acting upon it from day one".

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